August Recap By Oasis.app
Hello Oasis Fellows
This month has been quite hectic. The market is a rollercoaster, but we are still here to build a better future, and we will never forget about it.
To start, we are happy to announce that our journey to make your life easier when managing your vault is going forwards, and fast! We have just introduced another automation feature, Constant Multiple, which allows you to set a target multiple for your vault and maintain it automatically.
As you know we love IRL events at Oasis.app and in early September, some of our team members will be at ETHWarsaw! You can meet us around and be sure to go watch Damian, one of our software engineers, giving a workshop about “Multicall contract, a way of combining multiple blockchain calls into one”.
Finally, we would like to quickly cover what happened on August 11th, when some wallet addresses were blocked on our platform for a while. The most important thing to remember is that Oasis.app cannot control its users' funds and the Maker Protocol is completely decentralized. All customers that use it, will always maintain custody of their funds. You can read our official statement here.
Read more details about Oasis.app’s month below.
The markets continued volatility in August led to high volume this past month. More than 2 Billion in transactions were completed on Oasis.app, up by 700M in July. Despite the bear market sentiment, more than 9k unique users have connected their wallets to checkout the product offerings, simulate a vault, or get into their Borrow, Multiply, and Earn positions.
Technical & Development Updates
• We released Constant Multiple!
This is an automation strategy designed to maintain your Vault at a set Multiple for your collateral exposure. You can automatically adjust your Vault to a Target Multiple that you select, by either selling collateral or generating more debt, in the form of DAI.
In addition, you decide the maximum buy and minimum sell price, so you can create a sophisticated strategy to suit your needs. You can find out more about Constant Multiple here.
• Furthermore there have been various optimizations in the number of calls being done to the blockchain to provide you with a smoother experience when using Oasis.app.
Our Front-end is open-source if you are curious to read the notes for this month's releases you can find them here.
Help Us Improve: Oasis Notifications Service
We are working on a Notifications system that will update you with relevant and timely information about your position. As always, we want to build the product that you need. To do that, we need your input. If you can spare a couple of minutes we would love to hear from you! Please find the Survey - here.
New Team Members!
Andrei - CTO
Andrei joined us as CTO in July and it is great to have him onboard.
“I’m happy to start this new position as CTO at Oazo Apps. Bear markets are a great time to focus on the fundamentals of what needs to be built, and I am very excited to have joined such an amazing team to help build the Oasis.app platform as the most trusted place in DeFi to deploy and manage capital”.
We are hiring! If you love DeFi and Oasis.app, and have some experience with Social Media and being a Community Manager, please apply today. We are waiting for you!
News From The World
Before we say goodbye, as always we want to share some snapshots of what is happening around us.
• The Merge is one of the most significant and anticipated upgrades in the history of Ethereum, and it is happening soon! The Merge is responsible for the integration of the Ethereum Mainnet we use today, with its new proof-of-stake (PoS) consensus layer Beacon Chain. Beacon Chain is the new PoS system that will soon take the place of the proof-of-work mining on the Ethereum network. It will introduce new layers of security, promote a more sustainable network, as it eliminates the energy intensive mining, and has better foundations for more scalability solutions. Ethereum developers have stated that the first stage of the Merge is scheduled to be launched on September 6th, but it's finalized appearance is expected to be live between September 10th-20th 2022. Find more updates here.
• Crypto adoption has been on the rise in South America. With Brazil pushing for its Central Bank Digital Currency (CBDC), the nation's Central Bank has commissioned a commercial banking giant to build a DeFi solution to its CBDC plans. They published a list of proposals for 2022 which includes the integration of stablecoins and also merge them into their financial system to promote better financial inclusion across the country. In Argentina, the city of Mendoza has started accepting tax payments using a number of stablecoins. Diego Fernández, Buenos Aires’ Secretary of Innovation and Digital Transformation was quoted stating they “want people to be able to pay [their taxes] using tools they already make use of”. Hopefully this recognition continues as a useful and effective tool to make crypto and stablecoin innovation even more accessible for financial freedom.
• It was South Korea’s Blockchain Week 2022 this August and from it emerged “immense optimism”. With over 8,700 attendees at Asia’s biggest crypto conference with builders, policymakers, investors, enthusiasts and more all gathered in Seoul. With Web3 as the main agenda, it is always empowering to hear that so many gather to learn and share interests in the new projects and innovations to come in the worldwide crypto community. Wherever you are in the world check out ETH events, Bitcoin Events or find any others that might be near you to go and meet fellow DeFi and Crypto enthusiasts.
September 5, 2022